Loan Agreement
Exhibit 4.7
This
Loan Agreement (“this Agreement”) is entered into and executed by and between the following
Parties on January 25, 2011:
Party A: Ku6 Media Co., Ltd.
Party B: Xxxxxx Games Limited
Under the principles of good faith, equality, mutual benefits and common development, through
friendly negotiations, the Parties reach the following terms and conditions in respect to the loan
issue in accordance with Hong Kong law:
| 1. | Type of Loan: The loan shall be provided in cash. |
| 2. | Loan Purpose: The loan shall be used for business operation. |
| 3. | Loan Amount: USD 3.3 million (Three Million Three Hundred Thousand USD). |
| 4. | Interest Rate: 0.6% per annum according to the actual borrowing days. |
| 5. | Loan Term: From
January 25, 2011 to July 25, 2011. |
| 6. | Limitation on the Loan Purpose: Party B shall not use the loan for other purposes except that
under this Agreement. |
| 7. | Repayment and Payment of the Principal and Interest |
Party B shall fully repay and pay off the entire loan principal and the interest accrued
thereof before July 25, 2011. The interest shall be calculated based on the agreed
interest rate and the actual borrowing days, which shall be settled and paid off along with the
repayment of the loan principal. |
| 8. | Dispute Settlement |
| 8.1 | This Agreement is concluded in accordance with Hong Kong law and shall be performed in
accordance with Hong Kong law, and the disputes arising from this Agreement shall be governed
by Hong Kong law as well. Any disputes arising from the performance of this Agreement, shall
be first settled by the Parties through friendly negotiation; if the Parties fail to reach any
settlement on the dispute by negotiation, then either Party may resort to arbitration for
settlement. |
| 8.2 | The Parties agree to file the dispute to Hong Kong International Arbitration
Center for arbitration in accordance with its then applicable arbitral rules. |
| 8.3 | The arbitral award shall be final and binding on the Parties. The arbitration cost (including
but not limited to the arbitration fee, attorney fee, etc.) shall be borne by the losing
party, unless otherwise decided by the arbitral award. |
| 9. | Miscellaneous |
| 9.1 | No Party is allowed to unilaterally modify or terminate this Agreement unless otherwise
permitted by the law. Where one Party requires modifying or terminating this Agreement
according to the applicable law, it shall notify the counter party on a timely basis and shall
reach a written agreement with the counter party under such situation. |
| 9.2 | Where there is any issue which is not covered in this Agreement, the Parties shall discuss
with each other and make a supplementary agreement on such issue. The said supplementary
agreement shall have the same legal effect with this Agreement. |
| 9.3 | This Agreement has two original copies for each Party to hold one. |
[Signature Page]
The Parties has procured their duly authorized representatives to sign this Agreement on the date
first written above:
Party A: Ku6 Media Co., Ltd.
Authorized Representative (Signature):
Party B: Xxxxxx Games Limited
Authorized Representative (Signature):
